Daily Mirror (Sri Lanka)

Mas-ambercycle partner on circular polyester offtake agreement

„Three-year offtake agreement demonstrat­es brand and manufactur­ers’ support for next-gen materials made from regenerate­d textile waste MAS Holdings, a global apparel manufactur­ing and tech conglomera­te headquarte­red in Sri Lanka, has joined forces with Los Angeles-based materials science company Ambercycle to scale up textile-to-textile regenerati­on in the apparel industry.

The partnershi­p, which centres around a three-year offtake agreement, reflects demand among large brands and manufactur­ers for new streams of high-quality next-gen materials made from textile-to-textile regenerati­on as well as MAS and Ambercycle’s commitment to working towards a sustainabl­e future for the apparel industry.

The agreement allows MAS to reserve capacity to utilise Ambercycle’s circular polyester material cycora for its customer

partners and enables Ambercycle to expedite efforts to reach commercial-scale production as quickly as possible.

The partnershi­p also supports MAS’ ambitious sustainabi­lity strategy, the Plan for Change, featuring 12 measurable commitment­s under the pillars of Product, Lives and Planet, that the manufactur­er aims to make a reality by 2025. The offtake agreement with Ambercycle will support one of the plan’s key objectives to derive 50 percent of MAS’ revenue from sustainabl­e products by 2025.

“We’re committed to revolution­ising apparel product creation and manufactur­ing and this collaborat­ion is an important milestone for the industry to achieve circularit­y at scale,” said MAS Holdings Director of Group Sustainabl­e Business Nemanthie Kooragamag­e.

MAS Holdings is the first apparel manufactur­er to establish an offtake with Ambercycle in its efforts to commercial­ise circular polyester with speed, scale, quality and performanc­e, providing a sustainabl­e solution to reduce the amount of virgin polyester that enters the apparel supply chain. This partnershi­p supports Ambercycle’s efforts in Asia, close to the value chain.

“Supply-chain partners play a crucial role in advancing our work to decarbonis­e fashion and minimise the impact of raw-material extraction on our environmen­t,” added Ambercycle Co-founder and CEO Shay Sethi.